During today’s early trading session, Asian stocks traded higher as the Bank of Japan maintained its massive stimulus programme, furthermore, positive Japanese data showing that yearly exports increased by 2.4%, significantly higher that the expected 0.3%. The Nikkei share average was up by 0.55%, closing at 19,544, a fresh 15 year high. Following the BoJ monthly report, the Yen rallied against the Dollar as officials stated that Japan’s economy is expected to “continue its moderate recovery trend”. The pair is currently trading around 120.9.
During the European session, the GBP/USD dropped to its lowest level since 2009 following mixed UK data. The Average Earning Index + Bonus showed a 1.8% increase, lower than the expected figure of 2.2%, the Unemployment change also came out negative which rose 5.7% during the month of January, however, the Claimant Count Change showed that the number of unemployed people declined by 31,000, slightly better than the expected figure of -30,000.
During early U.S. trade, the Dollar is traded cautiously against the Euro as investors are currently listening closely to the FOMC statement, volatility is expected to pick up as officials discuss interest rate decisions and factors affecting the economic outlook. it is expected that a rate hike will take place mid year as the U.S. economy continues to show improvement, this move could weekend the price of Gold as the commodity is considered bearish with raising interest rates.
March 18, 2015 – Daily Market News
During today’s early trading session, Asian stocks traded higher as the Bank of Japan maintained its massive stimulus programme, furthermore, positive Japanese data showing that yearly exports increased by 2.4%, significantly higher that the expected 0.3%. The Nikkei share average was up by 0.55%, closing at 19,544, a fresh 15 year high. Following the BoJ monthly report, the Yen rallied against the Dollar as officials stated that Japan’s economy is expected to “continue its moderate recovery trend”. The pair is currently trading around 120.9.
During the European session, the GBP/USD dropped to its lowest level since 2009 following mixed UK data. The Average Earning Index + Bonus showed a 1.8% increase, lower than the expected figure of 2.2%, the Unemployment change also came out negative which rose 5.7% during the month of January, however, the Claimant Count Change showed that the number of unemployed people declined by 31,000, slightly better than the expected figure of -30,000.
During early U.S. trade, the Dollar is traded cautiously against the Euro as investors are currently listening closely to the FOMC statement, volatility is expected to pick up as officials discuss interest rate decisions and factors affecting the economic outlook. it is expected that a rate hike will take place mid year as the U.S. economy continues to show improvement, this move could weekend the price of Gold as the commodity is considered bearish with raising interest rates.
Todays Main Events (GMT)
09:30 -GBP- Average Earnings Index +Bonus (Jan)
09:30 -GBP- BoE MPC vote cut (Mar)
09:30 -GBP- BoE MPC vote hike (Mar)
09:30 -GBP- Claimant Count Change (Feb)
09:30 -GBP- BoE MPC Meeting Minutes
10:00 -EUR- Trade Balance (Jan)
10:35 -EUR- German 10-Year Bund Auction
12:30 -CAD- Wholesale Sales (MoM) (Jan)
18:00 -USD- FOMC Economic Projections
18:00 -USD- FOMC Statement
18:00 -USD- Fed Funds Target Rate
18:00 -USD- Treasury Secretary Lew Speaks
18:30 -USD- Fed Chair Yellen Speaks
21:45 -USD- GDP (QoQ) (Q4)
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